Economics · Unit 4: The global economy

EC4.8 — Measuring development

Economics · SL / HL · syllabus-mapped notes

1. EC4.8.1

   The multidimensional nature of economic development

   Explain why economic development is multidimensional and not the same as economic growth.

2. EC4.8.2

   Single indicators

   Explain the single indicators of development, income, health, education, inequality, energy and environmental measures.

3. EC4.8.3

   Composite indicators

   Explain the composite indicators, the HDI, the Gender Inequality Index, the IHDI and the Happy Planet Index.

4. EC4.8.4

   Strengths and limitations of approaches to measuring economic development

   Evaluate the strengths and limitations of the different approaches to measuring development.

5. EC4.8.5

   Possible relationship between economic growth and economic development

   Evaluate how far economic growth actually delivers economic development.